New Delhi, Dec 15 (KNN) The two-wheeler exports from India have witnessed a decline of 10 per cent y-o-y between April and November this year as compared to same period last year, according to the latest data from the Society of Indian Automobile Manufacturers show.

Due to the global slowdown, the two-wheeler exports stood at 26, 79,201 between April-November (2022) as compared to 29, 76,065 units last year.

Major exporters such as Bajaj Auto, Hero MotoCorp, Honda Motorcycle & Scooter India (HMSI) and TVS Motor Company, all have reported decline in sales, the data suggests.

Bajaj Auto exported 12, 05,042 units during the period, down 19 per cent y-o-y compared with 14, 84,605 units in April-November 2021. Hero MotoCorp, too, reported a decline of 37 per cent y-o-y to 1, 23,930 units (1, 97,337).

TVS Motor Company reported a decline of 4 per cent y-o-y to 6, 85,805 units (7,17,057) and HMSI recorded a marginal decline in its motorcycle exports to 1,16,237 units (1,16,512). However, it has grown in scooter exports to 1, 39,403 units (1, 20,516), show the data.

On the other hand, India Yamaha Motor and Royal Enfield saw uptick in exports. While Yamaha Motor grew its exports by 16 per cent y-o-y to 2, 05, 845, the ‘Himalayan’ maker reported a 38 per cent y-o-y growth in exports to 64,973 units.

According to analysts, while the demand for two-wheelers has seen some respite from the festival season, with retail offtake in October even higher than the pre-pandemic levels, the export markets are still away due to uncertainty in their economies, according to a report in the Hindu Businessline.

The report suggests that the companies stopped exporting to countries like Sri Lanka due to economic crisis and kept high import tariffs.  (KNN Bureau)